10 Years of Sarbanes-Oxley

by Dennis Stuchell 23. October 2012 09:45

It may be hard to believe, but the Sarbanes-Oxley Act and the Public Company Accounting Oversight Board (PCAOB) have been with us now for ten years. And the PCAOB inspections of audit issuers continue to find serious deficiencies.

During a recent keynote address at the American Law Institute (ALI) CLE conference in Chicago, Board Member Jeanette M. Franzel spoke to some of the common areas of audit deficiencies, which include revenue recognition, fair value of financial instruments, management estimates, testing and evaluating internal controls, related party transactions, and the auditor’s assessment and response to fraud risk. The full text of the speech  is available on the PCAOB website.

Urish Popeck has signficant experience with revenue recognition, valuation, and other critical assurance and accounting advisory issues. We would be pleased to assist you in these areas and other public company accounting needs. And let us know if you have any questions regarding SOX or PCAOB oversight.

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